How To Finance Your Next BMW Purchase

How To Finance Your Next BMW Purchase


bmw f30 red1 How To Finance Your Next BMW Purchase


When it comes to buying a BMW, you get what you pay for. The German manufacturer is renowned for producing high-quality, executive cars. BMW are synonymous with style, performance, and refinement. Naturally, that comes with a price tag. For those on a tight budget, a BMW is often out of budget. But, don’t worry just yet. There are plenty of options out there to help you finance your dream car. Today, we’ll run through some of the best routes.

First, it’s worth considering a secondhand model, especially if it’s your first BMW. Remember, BMW produce extremely reliable, quality cars. They’re built to last for a decade on sensible driving. That means a three year old model will still produce years of reliable driving. There’s no downside to buying a used car, and it might just bring your dream car into a realistic budget. There are now more used cars on sale than ever before, so you choice is wide and varied. So, how do you pay for it?


Paying up front with cash is the best way to finance any car purchase. You’ll avoid any monthly payments and cut out the increasing interest rates of a loan. When you pay by cash, you also put yourself in a better bargaining position. You can negotiate a better deal on the BMW and shave a little off the price tag. Of course, not everyone is in the position to buy a Beemer outright. However, we do suggest saving the biggest possible deposit. The smaller the loan you take out, the better.

Bank loan

If you can’t afford the full payment (let’s face it, how many of us realistically can?) then you should turn to your bank. They’ll often provide the most flexible loan with the best interest rates. More importantly, it means you can buy the car outright, and your loan isn’t tied to the car itself. Of course, you must make sure that the loan isn’t tied to your house or any other valuable asset. It’s also worth shopping around to find the best interest rates.


Leasing is a complete alternative to buying your BMW. Leasing is more like a long-term car hire. You’ll pay the lease company to use the car for up to three years. There will be a deposit to pay and regular monthly payments. However, these often work out cheaper than the cost of paying a full loan. With that in mind, many leasers find they can afford a better model; perfect if you want the brand new BMW!

Finance plan

Finally, you can enter into a finance plan with the car dealers themselves. Most major dealerships like offer a variety of finance plans. They include the Hire Purchase (HP) plan and the Personal Contract Plan. Both require a deposit and monthly payments. The only difference to a regular loan is that you don’t own the car outright until you make the full repayment.

Your dream BMW isn’t necessarily out of reach! Follow these financial tips and you’ll find your dream car in a budget you can afford.